The local share market has trended lower today with the benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) once again tracking below 5,800 points. Although there are a number of businesses that have so far defied the market's general decline, the following businesses have certainly contributed to it.
Ardent Leisure Group
The Ardent Leisure Group (ASX: AAD) share price has been slammed 21.4% today. The owner of theme parks such as the embattled Dreamworld on the Gold Coast and WhiteWater World, along with numerous other businesses including AMF Bowling, reported a sharp decline in core earnings for the period.
It noted that the impact from the incident that occurred at Dreamworld late last year had impacted its business by a total of $95.2 million, reporting an actual loss of $49.4 million. That compares to a $22.7 million profit in the prior corresponding period. It also reduced its dividend to 2 cents per share, down from 7 cents per share in the prior corresponding period.
Flight Centre Travel Group
The Flight Centre Travel Group Ltd (ASX: FLT) share price has slipped 3.5% today to trade at $29.24, although the shares did decline as much as 8.6% at one point earlier. The travel agency business reported a 36% decrease in its first-half net profit after tax result to $74 million. It also said that 'unprecedented' airfare discounting had stimulated demand but slowed revenue growth while adverse foreign exchange movements, economic uncertainty and reduced earnings from its tour operating businesses had had a significant impact on its results.
Meanwhile, it decreased its underlying profit before tax guidance to between $300 million and $330 million, down from a guidance range of $320 million to $355 million.
Ramsay Health Care
The Ramsay Health Care Limited (ASX: RHC) share price has also declined 5.4% after the hospital group reported its half-year earnings results to the market. It should be noted that the results themselves seemed reasonable, with core earnings per share rising 13% to 128.9 cents and 8.8% growth in revenue from its primary Australia/Asia segment. However, the RHC share price may have responded negatively due to the news that the business' CEO, Mr Chris Rex, intends to retire in 2017. He has acted as CEO since 2008 and previously served as CFO for 13 years.
Sky Network Television
The Sky Network Television Ltd (ASX: SKT) share price has been hammered 12.1% today. On Wednesday, the company reported a decline in total subscribers as well as negative revenue and earnings growth. There was more bad news today when the company emerged from a trading halt declaring that its proposed acquisition of Vodafone's New Zealand unit had been rejected by the country's competition regulator, saying that it would have created a monopoly on premium sports content, according to CNBC.
Foolish Takeaway
Of course, investors in these businesses will be feeling the share price declines today, with some potentially reassessing their positions in those businesses.
